A $25,000 overstatement of the 2019 ending inventory was discovered after the financial statements for 2019 were prepared. Which of the following describes the effect of the inventory error on the 2019 financial statements? Multiple Choice Current assets were overstated and net income was overstated. Current assets were understated and net income was understated. Current assets were overstated and net income was understated. Current assets were understated and net income was overstated.

D) All of the above

Explanation:

The Health Insurance Portability and Accountability (HIPAA) privacy rules were designed to protect a person's medical records and other relevant medical information. Entities covered under HIPAA are: health plans, health care clearinghouses, and health care providers who electronically transmit any health information.

Incidental disclosures are not considered a HIPAA violation. A disclosure is incidental if the organization applied reasonable safeguards and implemented the minimum necessary standard.